The Hindustan Aeronautics Ltd (HAL) on Wednesday said it has set a revenue target of Rs 17,900 crore for 2017-18, projecting a mere 2.8 per cent year-on-year growth over Rs 17,406 crore posted in the last fiscal.

"We have signed an agreement with the Defence Ministry, with a revenue target of Rs 17,900 crore for 2017-18 from operations," said the company in a statement here.

The annual pact, signed by HAL Chairman and Managing Director T. Suvarna Raju and Defence Production Secretary Ashok Kumar Gupta in New Delhi on Tuesday, has also set targets for performance parametres by the company's various divisions.

"The capital expenditure will be Rs 1,300 crore for capacity building, modernisation and setting up of solar power plants," said the statement.

As part of the government's 'Make in India' initiative, the company will roll out Hindustan Turboprop Trainer-40 (HTT-40), Light Combat Helicopter (LCH) and Light Utility Helicopter (LUH).

"Clearance by the aviation regulator DGCA for the civil version of Dornier (Do-228) aircraft, Jaguar upgrade and Mirage 2000 upgrade are targetted this year," added the statement.

The company began the year with orders valued at Rs 21,000 crore, that includes 12 Do-228 aircraft and 32 Advanced Light Helicopters (ALH) for the Indian Navy and the Coast Guard and AL-31 FP engines for the Indian Air Force's Su 30 MKI fighters.

--IANS

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